BAB, Inc. Reports Profit for Year-ended 11/30/2013

By: Big Apple Bagels, Inc. (BAB) | 0 Shares 173 Reads

DEERFIELD, Ill. - February 19, 2014 - (BUSINESS WIRE) - BAB, Inc. (OTCBB: BABB) announced its financial results for its fiscal year ended November 30, 2013, reporting net income of $351,000, or $0.05 per share.

For the year-ended November 30, 2013, BAB had revenues of $2,450,000 and net income of $351,000, or $0.05 per share, versus revenues of $2,675,000 and net income of $419,000, or $0.06 per share, for the same period in 2012.

Total operating expenses for the year ended November 30, 2013, were 2,065,000 versus $2,236,000 for the year ended November 30, 2012.

BAB, Inc. franchises and licenses Big Apple Bagels®, My Favorite Muffin®, SweetDuet Frozen Yogurt & Gourmet Muffins® and Brewster’s® Coffee. The Company’s stock is traded on the OTCBB under the symbol BABB and its web site can be visited at www.babcorp.com.

BAB, INC.
CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS


	Fiscal Year Ended

	2013		2012		% Change
REVENUES

Royalty fees from franchised stores	1,785,921		1,859,064		-3.9	%
Franchise and area development fee revenue	60,000		102,500		-41.5	%
Licensing fees and other income	604,273		713,258		-15.3	%
Total Revenue	2,450,194		2,674,822		-8.4	%

OPERATING COSTS AND EXPENSES

Selling, general and administrative	2,047,370		2,217,332		-7.7	%
Depreciation and amortization	17,493		18,924		-7.6	%
Total Operating Expense	2,064,863		2,236,256		-7.7	%

Income before interest, other and taxes	385,331		438,566		-12.1	%

Interest expense	(5,699	)	(7,028	)	-18.9	%
Interest and other income	968		2,542		-61.9	%

Current tax expense	(30,067	)	(15,000	)	N/M

Net Income	350,533		419,080		-16.4	%

Earnings per share - basic	0.05		0.06		N/M
Average number of shares outstanding	7,263,508		7,263,508		N/M

Earnings per share - diluted	0.05		0.06		N/M
Average number of shares outstanding	7,268,608		7,265,860		N/M